MANILA, Philippines - Gasoline, diesel prices are expected to increase for the third consecutive week, mostly due to the escalation of attacks between Russia and Ukraine, local oil industry sources said on Friday.
Gasoline, diesel prices to increase by P1 next week, This news data comes from:http://www.705-888.com
They said that gasoline prices would go up by P1 to P1.20 per liter and diesel by P1.30 to P1.50 per liter.
Gasoline, diesel prices to increase by P1 next week
These estimates are based on the 4-day trading of Mean of Platts, Singapore, the pricing basis of refined goods in Southeast Asia.
Market reactions to recent global oil-related developments, specifically the damage to Russian oil processing facilities by Ukrainian attacks, US imposition of new sanctions on Iran’s oil revenue stream and Saudi Aramco and the halt to exports to India’s refinery by Iraq’s state oil marketer SOMO were cited as the reasons for the new round of increases.
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- One in four people lack access to safe drinking water – UN
- Thai tycoon takes office as PM after royal endorsement
- Boy killed, mother injured in Pasig fire
- 'Perfect storm': UK fishermen reel from octopus invasion
- Classes suspended in 10 Metro Manila cities due to rains
- Shooting of Indonesian diplomat in Peru investigated as a contract killing
- Peace efforts in limbo as Kyiv mourns 23 dead
- Putin tells Xi China-Russia ties are at 'unprecedented level'
- DOJ issues lookout order vs Atong Ang, others over missing cockfighters
- Marcos wants subpoena power for body investigating flood projects
